Federal Treasurer Jim Chalmers will hand down the budget this evening, announcing energy bill relief for all Australian households.
While the fresh figures have not yet been released, last year's budget made 5 million households eligible for up to $500 in power bill relief, while small businesses were eligible for up to $650.In tonight's federal budget, Treasurer Jim Chalmers is set to deliver a $9.3 billion surplus for the current financial year ending in June. In nearly two decades, it is the second consecutive budget surplus.
The figures for the upcoming financial year, 2024-25, will be watched particularly closely in the context of inflation.The government revealed on Sunday that Treasury had revised its inflation forecasts downwards but the Reserve Bank of Australia last week predicted a rise in inflation for the rest of the year.